Fortune are reporting that the partnership will see MoneyGram pilot the use of XRP through a new Rippleservice, called xRapid, designed to provide liquidity to financial institutions. In a release announcing the news, the companies touted the speed and efficiency of XRP:

“Prices have been shooting up over the past few months because of the huge buying interest from new speculators who do not understand the nature of the instruments. This is likely to be a dangerous market for true investors and should be avoided.”

He said: “I know this. If I could buy long-term puts. If I could buy a five-year put on every one of the cryptocurrencies – I’d be glad to do it. But I would never short a dime’s worth.

“I think what’s going on will definitely come to a bad ending.”

Mr Buffett said he would not occupy a short position on the future of bitcoin. He said: “I get into enough trouble with things I think I know something about.”

“Why in the world should I take a long or short position in something I don’t know anything about.”

Mr Buffet said bitcoin will not be a currency Berkshire Hathaway would invest on in the future. He said: “We aren’t, believe me. We don’t own any and we’re not short any and we don’t have a position in them.”